Sberbank CIB1, the corporate and investment banking business of Sberbank, and Lexicon Development have signed an agreement on financing the construction of Rumyantsevo Park residential complex. The complex will be located near Salaryevo metro station in Moscow’s South-Western Administrative Area. The project includes the construction of a business-class residential complex with an underground car park. The complex will consist of three buildings of varying height and have a total area of approximately 163,000 square metres. Project financing with a limit of 5.95 bln roubles will be provided for 57 months. Lending is being provided in accordance with the bank support scheme established by the new version of Federal Law 214-FZ.
Commenting on the deal, Natalya Shemanovskaya, Managing Director and Head of the Real Estate Division of Sberbank CIB’s Largest Clients Coverage Department, said: “Thanks to Sberbank CIB’s flexible approach to structuring the deal we were able to put together a solution that creates secure foundations for further productive cooperation with Lexicon Development.”
Lexicon Development is a full-cycle developer that carries out the entire range of real estate operations, from creating architectural concepts to construction, sale and property management.
Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one third of aggregate Russian banking sector assets, it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the Bank's authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 145 million customers in 20 countries. Sberbank has the largest distribution network in Russia with almost 15,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, India, China, Turkey and other countries.
Sberbank CIB is the corporate and investment banking business of Sberbank. Its key areas of activity are corporate finance (including trade finance), the documentary business2, investment banking services, trade operations with securities, and private equity. Sberbank’s corporate and investment banking business provides integrated financial solutions and investment advisory services to its clients, which include major corporations, financial institutions, sovereign states and federal and sub-federal government bodies and organisations.